Dewey: It Takes A Village (To Wind Down a Law Firm)

How many professional services firms does it take to shut down a law practice?

In the case of bankrupt Dewey & LeBoeuf LLP, at least eight, according to court documents filed on Friday — and that’s just counting those tending to the needs of the firm itself. (The firm’s three groups of creditors each have their own legal counsel as well, the costs of which are borne by the estate.)

All told, Dewey has asked the court to approval the retainer of three law firms, two restructuring firms, a collections agent, a public relations firm and a consultant to evaluate potential claims against partners and former partners. Each carries a hefty price tag, some charging hourly fees of up to $935 while others are seeking advance retainers of up to $150,000. . .